[BrentCrude]

I'm always nickeling and diming sign up bonuses out of banks and I ran across this one where you can actually become the lender collecting high interest rates from desperate bidders.It's not your run of the mill shady investment deal because it's set up legally and legitimately and is even looked upon favorably and endorsed by some mainstream people.OK,I still think it's off the wall even though it's done up in a professional matter.

It's www.prosper.com If you go through the right link they add $25 into your account.You can probably Google the $25 free link or they might give you the $25 through the main web address anyway?You can either be the bidder on loans or the loaner accepting bid offers on giving out loans.You can collect some big interest rates and you can choose the level of integrity you demand of a customer.The higher the risk of the borrower,the higher the interest rate you can charge.You can start out with as little as $50.

All Prosper does is act as the middle man getting their bit of juice from the transaction between lenders and borrowers.When you sign up you pick a collection agency to recover money you loan out to borrowers.If you get stiffed,the collection agency gets 17% of the money they recover for you.

This whole thing sort of reminds me of Credit Wager and somebody down and out that needs a quick bankroll for gambling and will do an exit stage left when he loses might find this place attractive.There is a possibility in these economically stressed times that you could end up being a bagholder here if you lend $$$$$.

[Stacocakes]

Looked into that at one point.Was to bad that I couldn't join since I am from canada.Unless they changed that now...

[SlickFazzer]

I've played around with it, you can start by lending as little as $50 - and you can
pick who you would like to lend to. Looks like the company is doing well, I have seen some TV commercials recently. Worth a look.

[SlickFazzer]

The borrowers get their rates set by Prosper based on the info they provide (credit check involved) -- you then as the lender can search through everyone (everyone gets a rating), read their story and situation, and make a decision as to who you want to take a chance with and lend to. Some borrowers have perfect credit, some are all barreled in the way it looks.

[SlickFazzer]

i'm going to lend this family the 10K they need but at 15.5%

Was that guy a closer in the 90's....

[Bet Shooter]

Is their any collateral put up by them? What recourse to you have if they stiff? You can't do it "the old fashion way".

[Bet Shooter]

Mark Wholers?.....Now there was a nice career....

[SlickFazzer]

Is their any collateral put up by them? What recourse to you have if they stiff? You can't do it "the old fashion way".

Your $ is usually spread out over numerous people - $50 to 10 different people for example.

Prosper.com , for more information.

[Bet Shooter]

I see, so you are playing a default rate of a group as compared to one individual. If the group as a whoel pays up.....then you are in. But if some default you may only make say 10% and then Prosper chases them for the rest? Or is it your job?

[SlickFazzer]

Their website explains it better than I can.

Prosper.com, click on "more about lending"

[rm18]

it will **** up their credit but i doubt prosper will do much chasing

[rm18]

f%uck

[BrentCrude]

I meant loan shark!!!I always come up with too big of an intro that can't fit in the space provided and knock out some letters.I always look like the moron I am when I pull the trigger too fast on submitting posts.